HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Shanghai Haohai Biological Technology (688366CH)- Diversified Business Layout Doesn't Secure Outlook

China Healthcare Weekly (May20)-Lockdown Impact on Macro Economy, Bottom Signal? Rare Disease Policy

The Impact of DRGs Policy on China Medical System

BeiGene Ltd (6160.HK/688235.CH) - There Is No Way to Retreat

Re-Examine the Outlook and Investment Strategy for China Biotech and CXO

Innovent Biologics Inc (1801.HK) - Capable of Surviving “this Winter”

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>With Roche’s failure of several clinical trials on TIGIT project tiragolumab, the market's future expectations on this target have discounted. Investors may need to get prepared in advance.</li>
<li>Ociperlimab means a lot to BeiGene. If ociperlimab fails, BeiGene would have no big catalyst for a long time. BeiGene’s label of superior global R&amp;D capability + potential BIC doesn't hold water.</li>
<li>Without ociperlimab, BeiGene’s valuation could fall back to about RMB60 billion to RMB80 billion. If the valuation is finally in line with Innovent, it would be no surprising.</li>
</ul>


With Roche’s failure of several clinical trials on TIGIT project tiragolumab, the market's future expectations on this target have discounted. Investors may need to get prepared in advance.
Ociperlimab means a lot to BeiGene. If ociperlimab fails, BeiGene would have no big catalyst for a long time. BeiGene’s label of superior global R&amp;D capability + potential BIC doesn't hold water.
Without ociperlimab, BeiGene’s valuation could fall back to about RMB60 billion to RMB80 billion. If the valuation is finally in line with Innovent, it would be no surprising.


BeiGene Ltd (6160.HK/BGNE.US/688235.CH) - Valuation Remodeling if the TIGIT Project Fails